The Rundown

  • Account openings, online and in-branch, double in Octoberat BECU.
  • Randolph-Brooks FCU reports 22% of new funds through ACHare from Bank of America.
  • Online account opening up as much as 40% at Andera, Harlandand Fiserv.

While Bank Transfer Day, and the dump-your-bank sentiment thatserves as its backdrop, has earned a lot of media coverage andpromotional dollars among credit unions, are people reallyswitching?

The folks whose job it is to facilitate that move behind thescenes, who manage the so-called “switch kits” of electronicbanking, say it's so.

Several big credit unions and the vendors who supply theirtechnology told Credit Union Times last week theyhave seen a surge of new memberships that began when Bank ofAmerica declared its $5 a month debit fee in late September.

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